Omega Custom Cabinets produces and sells custom bathroom Vanities. The fim determined that if hires 10 workers. It can produce 20 vanites per week. Irithies 11 workers, it can produce 22 vanities welt sells each vanity for 5800, and it pays each of its workers $1,000 de week A. For the 11th worker, the value of marginal product of labor $1,600.
B. For the 11th worker the marginal revenue product is $2,000
C. The firm is maximizing it's profit
D, If the firm is employing 11 workers, then its profit would increase if it cut back to 10 workers

Consider how health insurance affects the quantity of health care services performed. suppose that the typical medical procedure has a cost of $160, yet a person with health insurance pays only $40 out of pocket. her insurance company pays the remaining $120. (the insurance company recoups the $120 through premiums, but the premium a person pays does not depend on how many procedures that person chooses to undergo.) consider the following demand curve in the market for medical care. use the black point (plus symbol) to indicate the quantity of procedures demanded if each procedure has a price of $160. then use the grey point (star symbol) to indicate the quantity of procedures demanded if each procedure has a price of $40. q d at p=$160 q d at p=$40 0 10 20 30 40 50 60 70 80 90 100 200 180 160 140 120 100 80 60 40 20 0 price of medical procedures quantity of medical procedures demand if the cost of each procedure to society is truly $160, the quantity that maximizes total surplus is procedures. economists often blame the health insurance system for excessive use of medical care. given your analysis, the use of care might be viewed as excessive because consumers get procedures whose value is than the cost of producing them.

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You speak to a business owner that is taking in almost $2000 in revenue each month. the owner still says that they are having trouble keeping the doors open. how can that be possible? use the terms of revenue, expenses and profit/loss in your answer